M&As: Carolina acquires Chroma Corp; Albrecht Bäumer sells jv partnership to Greenacres Holding

US-based additives company Carolina Color Corporation, which is owned by private equity firm Arsenal Capital Partners, has acquired a compatriot, Chroma Corporation, based in McHenry, Illinois. Chroma is a speciality colour and additive concentrate business serving packaging, electronics, and many other markets. With this acquisition, Carolina says it will continue to grow its manufacturing footprint throughout the US to leverage its growing suite of colourant and additive technologies. Terms of the transaction were not disclosed.

Chroma has provided total colour solutions from its corporate headquarters in Illinois for more than 50 years. It produces custom formulated masterbatch colours, dry colours, additive concentrates, and pre-colour compounds for the packaging, electronic, safety, automotive, recreational, medical, and consumer products industries.

Carolina is composed of four specialty colour and additive concentrate supplier brands in the plastics marketplace. The brands include: Breen, Chroma, Hudson, and Carolina Color. This combined business, with sales of greater than US$150 million, currently has an extensive manufacturing footprint throughout the US Carolina was acquired by Arsenal in late 2017.

Meanwhile in other news, PU foam machinery supplier Albrecht Bäumer GmbH & Co. has sold its partnership in a joint venture firm to its partner. In 2007, Albrecht Bäumer founded Greenacres-Bäumer Cutting Media (Pty) Ltd as a joint venture to develop market potentials and to learn more about the African market and to gain experience.

However, the jv did not work out as planned, with Albrecht Bäumer stating “production in recent years has not achieved the necessary efficiency to maintain the site”. For this reason, Albrecht Bäumer’s share in the company. represented by the CEOs, Nina Patisson and Jan Henrik Leisse, has been sold to joint venture partner Greenacres Holding.

Albrecht Bäumer, which has been supplying machines and plants for the foam industry for almost 70 years and focuses on special machines and automated systems for cutting, processing and transporting polyurethane foams, says that customers from South Africa will continue to be served by Harald Kullmann, Sales Director. Tarek Saada, Sales Manager, takes over the remaining African territories. André Schlimm, Service Sales Manager, is the contact person for Bäumer Services.

(PRA)

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